Startup Funding – Parkmate: The smart parking segment is counted among the select sectors that are witnessing tremendous growth potential in the coming years. And now investors have started betting on these possibilities.
In line with this, Parkmate, a startup that now offers smart parking solutions, has also secured seed funding through EvolveX.
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Let us tell you that Evolvex is a ‘Global Accelerator Program’ launched by investment firm, We Founder Circle. Make it clear that the investment amount is not disclosed by the startup or the investor.
Notably, our founding board has partnered with several strategic angel investors to help this startup overcome market-related challenges and compete with other competing companies.
Users using ParkMate’s smart parking solution can enter their destination credentials and the company provides them with a dedicated parking assistant to help them park when they reach the parking lot.
Not only does it ParkMate assist the user’s vehicle to the nearest parking spot, it also parks it properly.
Coming to the new investment, the startup is mainly looking to use the funds raised to expand its team and add new talent under various profiles. Along with this, the company intends to strengthen the technology associated with its offering.
Commenting on this new investment, Dhananjay Bhardwaj, Co-Founder and CEO of the startup said,
“We have complete confidence in our technology and innovation, and now, with the help and guidance of the Founders Circle, we can ensure that we are moving in the right direction towards our goals.”
At the same time Bhavana Bhatnagar, co-founder of We Founder Circle said in her statement;
“We are very excited about our investment in Parkmate. This company has clearly demonstrated its ability to solve the parking problem by taking into account the demand-supply ratio.”
“We all know that most Indian cities have unregulated and haphazard parking conditions, forcing people to park any type of vehicle at any place, any way.”